--- title: Machen McChesney Blog | Murry Guy, CPA (9) description: (9) --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-re-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-re-cobrand-fd-blues.png?width=279&height=100&name=mm-re-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - [Facebook](https://www.facebook.com/machenmcchesney) - 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[Full Story](https://info.machen.cpa/blog/businesses-get-ready-for-the-new-form-1099-nec) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Is It Time to Outsource Finance and Accounting?](https://info.machen.cpa/blog/is-it-time-to-outsource-finance-and-accounting) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jun 25, 2020 [![](https://info.machen.cpa/hubfs/Outsourcing-469480672-1.png)](https://info.machen.cpa/blog/is-it-time-to-outsource-finance-and-accounting) Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs during the COVID-19 crisis. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting employees into variable costs that can be scaled back in an economic downturn — or dialed up in times of growth and transition. [Full Story](https://info.machen.cpa/blog/is-it-time-to-outsource-finance-and-accounting) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [5 Steps to Streamline the Month-end Close](https://info.machen.cpa/blog/5-steps-to-streamline-the-month-end-close) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jun 09, 2020 [![](https://info.machen.cpa/hubfs/Calendar%20month%20end-539105097-1.png)](https://info.machen.cpa/blog/5-steps-to-streamline-the-month-end-close) Many companies struggle to close the books at the end of the month. The month-end close requires accounting personnel to round up data from across the organization. Under normal conditions, this process can strain internal resources. [Full Story](https://info.machen.cpa/blog/5-steps-to-streamline-the-month-end-close) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Hiring Independent Contractors? Make Sure They're Properly Classified](https://info.machen.cpa/blog/hiring-independent-contractors-make-sure-theyre-properly-classified) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on May 04, 2020 [![](https://info.machen.cpa/hubfs/Independent%20Contractor-1124400624-1.png)](https://info.machen.cpa/blog/hiring-independent-contractors-make-sure-theyre-properly-classified) As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. [Full Story](https://info.machen.cpa/blog/hiring-independent-contractors-make-sure-theyre-properly-classified) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Answers to Questions About the CARES Act Employee Retention Tax Credit](https://info.machen.cpa/blog/answers-to-questions-about-the-cares-act-employee-retention-tax-credit) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Apr 06, 2020 [![](https://info.machen.cpa/hubfs/Tax%20Relief%20-%201054011732-1.png)](https://info.machen.cpa/blog/answers-to-questions-about-the-cares-act-employee-retention-tax-credit) The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. [Full Story](https://info.machen.cpa/blog/answers-to-questions-about-the-cares-act-employee-retention-tax-credit) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [When to Write off Stale Receivables](https://info.machen.cpa/blog/when-to-write-off-stale-receivables) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Mar 03, 2020 [![](https://info.machen.cpa/hubfs/debt-1207684473-1.png)](https://info.machen.cpa/blog/when-to-write-off-stale-receivables) Accounts receivables are classified under current assets on the balance sheet if you expect to collect them within a year or within the operating cycle, whichever is longer. However, unless your company sells goods or services exclusively for cash, some of its receivables inevitably will be uncollectible. That’s why it’s important to record an allowance for doubtful accounts (also known as “bad debts”). These allowances are subjective, especially in uncertain economic times. [Full Story](https://info.machen.cpa/blog/when-to-write-off-stale-receivables) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Alabama's Severe Weather Preparedness Sales Tax Holiday](https://info.machen.cpa/blog/alabamas-severe-weather-preparedness-sales-tax-holiday) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Feb 10, 2020 [![](https://info.machen.cpa/hubfs/Emergency%20Supply%20List-120084588-1.png)](https://info.machen.cpa/blog/alabamas-severe-weather-preparedness-sales-tax-holiday) Alabama will hold its ninth annual Severe Weather Preparedness Sales Tax Holiday, beginning Friday, February 21st through Sunday, February 23rd. The Severe Weather Preparedness Sales Tax Holiday allows shoppers to stock up, tax-free, on items needed to prepare for a weather emergency or natural disaster.  [Full Story](https://info.machen.cpa/blog/alabamas-severe-weather-preparedness-sales-tax-holiday) Posted in [Alerts](https://info.machen.cpa/blog/topic/alerts) ## [Do Your Employees Receive Tips? You May Be Eligible for a Tax Credit.](https://info.machen.cpa/blog/do-your-employees-receive-tips-you-may-be-eligible-for-a-tax-credit) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Feb 07, 2020 [![](https://info.machen.cpa/hubfs/Food%20%26%20Beverages-1146231469-1.png)](https://info.machen.cpa/blog/do-your-employees-receive-tips-you-may-be-eligible-for-a-tax-credit) Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. [Full Story](https://info.machen.cpa/blog/do-your-employees-receive-tips-you-may-be-eligible-for-a-tax-credit) Posted in [Business Tax](https://info.machen.cpa/blog/topic/business-tax) ## [Cents-Per-Mile Rate for Business Miles Decreases Slightly for 2020](https://info.machen.cpa/blog/cents-per-mile-rate-for-business-miles-decreases-slightly-for-2020) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Jan 23, 2020 [![](https://info.machen.cpa/hubfs/Cars-486456796-1.png)](https://info.machen.cpa/blog/cents-per-mile-rate-for-business-miles-decreases-slightly-for-2020) This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent, to 57.5 cents per mile. As a result, you might claim a lower deduction for vehicle-related expenses for 2020 than you can for 2019. [Full Story](https://info.machen.cpa/blog/cents-per-mile-rate-for-business-miles-decreases-slightly-for-2020) Posted in [Business Tax](https://info.machen.cpa/blog/topic/business-tax) ## [Small Businesses: Stay Clear of a Severe Payroll Tax Penalty](https://info.machen.cpa/blog/small-businesses-stay-clear-of-a-severe-payroll-tax-penalty) ![](https://info.machen.cpa/hubfs/Murry%20Guy%202025%20Updat.jpg) Posted by [Murry Guy, CPA](https://info.machen.cpa/blog/author/murry-guy-cpa) on Nov 05, 2019 [![](https://info.machen.cpa/hubfs/iStock-857543974-1.png)](https://info.machen.cpa/blog/small-businesses-stay-clear-of-a-severe-payroll-tax-penalty) One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time. [Full Story](https://info.machen.cpa/blog/small-businesses-stay-clear-of-a-severe-payroll-tax-penalty) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) [Previous](https://info.machen.cpa/blog/author/murry-guy-cpa/page/8) [Next](https://info.machen.cpa/blog/author/murry-guy-cpa/page/10) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (242)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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